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Search Results 0 to 24 of about 25 (some duplicates have been removed)
credit. according to a report in the "washington post," president obama's economic advisors aand outside experts say the nation's much celebrated housing rebound is leaving too many people hyped, including young people looking to buy their first homes and individuals with credit records that were weakened by the recession. in response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer backed programs, including those offered by the federal housing administration that insure home loans against default. wait a minute. this is the exact tactic that caused the housing bubble and the housing market to crash years ago. is washington ever going to learn from its past mistakes? just another sign that the administration has no idea what they're doing. joining me with reaction, the founder of campens company and ceo of the bab group, real estate analyze, dani babb. the community reinvestment act, wasn't that the government started under jimmy carter, doubled down by bill clinton and increased under clinton that forced b
, the washington post reports that obama administration pushing banks to give out more home loans to people with weaker credit. did not one of them pay attention to what happened? do they not study history? doe they not understand anything? the reasoning? the housing rebound has left too many people behind. this sounds a little bit, just a little bit like well president clinton. like president bush. gosh, i want inch to have money to buy a house, but they don't. it's hard to disagree with the sentiment. but we've seen what happens when people think in terms of sentiment rather than solution. the market is improves. but here is another view on houses right now. 28% of all homeowners, in this country are still owing more than their homes are worth. the mortgage delinquency rate, on all loans is 7.4%. that is better than what it had been over 10%. just two years ago. but it is still not good. and more than 1.8 million properties in this country received foreclosure filings last year, 1.48 million remain in some stage of foreclosure. and president obama, folks -- i don't know what to say about
tonight. >>> now we head to washington where today president obama drew attention to those across-the-board budget cuts with a personal action. those budget cuts, known as the sequester. the president said he will return 5% of his annual salary. that's $20,000, to show solidarity with government employees who will be furlough. the white house says obama will personally write a check to the treasury. >>> and also tonight, washington watchdog is back, watching out for the ways government squanders taxpayer dollars. after katrina, nearly a billion dollars was handed out for the rebuilding of homes. but tonight, the rebuilding, the money, is missing. abc's senior washington correspondent jeff zeleny. >> reporter: felicia higgins lost everything in katrina seven years ago. but, she built her home using federal money from the road home program. she still starts every day looking out at this. >> it hits you in the face every time you walk out the front door. >> reporter: abc news has learned that hundreds of millions from that program is missing. and was never used to restore her neighbo
to get washington working? if obama is president for another four years, i guess vote democrat to make the house sways back. is that a credible portion of the electorate? >> i think you will find that voters frequently try to express a dissatisfaction. and normally the way they do that is by voting against the incumbent party. and sam, in the house of representatives, that would be the republicans. and so if you were trying to vote anti gridlock in the next congressional election, it seems that would be an anti republican -- >> you know, i might be the only one in d.c. who thinks this, but i have -- >> that's why you're here. >> this is new york. >> for the speech you're about to make. >> i do believe that over time sequestration is going to cause so much pain in these districts that the party that's most associated with it will face electoral consequences. and that happens to be in this case the republican party. and i think they know it, too, which is why they have gone through this painstaking technique of saying it was obama's idea. because they want him to take some of the blame a
, greta. >> is the obama administration -- i read the front page of the washington post, above the fold, are they seeking to relax the lending requirement, urging banks to once again lend to people with weak credit? >> weak might not be the right word. they are encouraging people to people with good credit, 600, 650 scores. what's been happening, that lending hasn't happened. if you have fantastic credit, you can get a loan and the housing market is coming back. but the people in the middle range are having a harder time. if you don't have 20%, they are having a harder time. they are trying to get the housing market going stronger. >> do they want have fear in when i read the article, i thought -- we are not doing this again isn't problem is that when you bury people with debt, who can't carry it, they are doing at this time debt services, spending their mon oat debt service, they are not going to rev up the economy because they don't have the money to buy the toaster. and if they get over their heads and their houseses are underwater, they can't move to get a job if they lose a job bec
in washington. some investors got a very early heads up about a key obama care decision and they made a bundle. another form of crony capitalism exposed. can anything to be done about it? we'll take a closer look. don't forget free market capitalism not crony capitalism there's a huge difference. free market capitalism is the best path to prosperity. "the kudlow report" is coming right back. but i wondered what a i tcustomer thought? is great, hi nia... nice to meet you nia, i'm mike. what do you drive? i have a ford explorer, i love my car. and you're treating it well? yes i am. there are a lot of places you could take your explorer for service, why do you bring it back to the ford dealership? they specifically work on fords. it seems to me like the best care. and it's equal or less money, so it's a value for me. get a free brake inspection and brake pads installed for just 49.95 after rebates when you use the ford service credit card. who doesn't enjoy value? [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aeros
washington. peter? >> that's right. sources confirm the obama administration launched a broad push to get mortgages to people with weaker credit records and provide banks with a taxpayer guarantee that they won't make their payments. sources say the administration is working with banks, the federal housing administration, the justice department, and other agencies to help home buyers with lower credit scores, but who might not be able to make mortgage -- who might be able to make mortgage payments now, but can't qualify because the bank is still cautious and tight with the lending standards. critics worry is sews seeds for another financial crisis and taxpayer bailout. >> this is a bad mistake, and it was shown to be a bad mistake by what happened in 2008. we would not have had a financial crisis if we had not followed policies that were intended to increase home ownership by making financing available to people who otherwise would not be able to get mortgages. >> the boom and bust were not caused by providing 30-year fixed rate mortgages to generally qualified families. it was caused by
washington. peter? >> hey, cheryl, that's right. sources confirm the obama administration launched a broad push to get mortgages to people with weaker credit records to help them and housing market as interest rates are at record lows. critics worry it's reviving the risky lending practices that created the financial crisis, but the administration, according to the sources, is working with banks, and the federal housing administration, the justice department, and other agencies to help people who want to buy a home, and they may is a lower credit score right now, but they might be able to make a mortgage payment, and they can't qualify because banks are still being very cautious and tight with their lending standards. >> it's very important for lenders to underwrite carefully and make sure that a person can afford the loan across the entire term of the loan. this effort does nothing to change that. all it does is loosen the credit a little bit to get it to more people who can afford a loan. >> unless we understand what caused the 2008 financial crisis, we're going to make the same mistake
obama is pushing for everyone to own a home, even if they cannot afford it. no one in washington learned the lessons of the housing crisis. for more let's bring in lou dobbs. lou, this is one of our favorite topics the -- >> of favorite topic. he combines two of those old adages. the government is here to help and the check is in the mail. i think in the incense of the fha and this call by the obama administration for them to lower their credit standards, it is almost incomprehensible that this demonstration, no matter -- suppose no one is more critical of this a administration and i am, but even i am stunned by the stupidity of the statement. we are just coming out of the worst economic crisis since the depression. it is certainly without any qualification whatsoever the fault of the agency's that permitted this securitization of mortgages. and they're at it again five years out from the death of the crisis. the. gerri: the administration say we will let holder fee to the fire of these people go belly up. the government is so involved in the banking process. there's no daylight. gerri:
have amnesia. the obama administration now urging banks to make more home loans available to people with weak credit. wait a minute, isn't that what caused the housing crash in the first place? a washington economics columnist and author of the new book, "central bankers and a world on fire". welcome. >> thanks, greta. >> greta: tell me is the obama administration i read the front page, are they seeking to relax the lending requirements and urging banks to once again lend to people with weak credit. >> weak might not be the right word. but not weak, but okay, 600, fico scores. if you have fantastic credit you can get a loan the housing market is coming back, but people in the middle range are having harder time. and they're trying to push more money into the housing market and trying to get the housing market going stranger. >> all right, do they not have some fear, i mean, when i read the article, you know, i thought, we're not doing this again. because you know, the problem with this, when you bury people with debt who can't carry it. they're doing the debt services and spending t
until 2009. >> i ran for president because i thought we needed big changes and i do think in washington it is a little like "american idol," except everybody is simon cowell. >> president obama decided he should hang with jay one more time when he was once again a presidential candidate, this time running for re-election. >> what is a cure for romnesia? >> well, obama care covers pre-existing conditions. if you have a case. the main cure, make sure you vote. >> joining me by phone, the man that spoke with jay leno about today's news, bill carter, national media reporter for "the new york times." bill, you spoke to jay and the story that you've written on it indicates this sounds like an orderly transition. >> that's what they're going for for sure. they have been through a lot of disorderly transitions in their history, and they were leaning the same direction until they got it sort of back on track in the past ten days. basically, jay agreeing to do it, the only way to make a transition work is for the outgoing host to decide yes, it is time for him to leave, same with johnny carson, c
far. according to the "wall street journal," the obama administration has decided to turn down the volume. white house correspondent dan lothian live from washington on that part of the story for us this morning. dan, this report reveals that the administration has a game plan for showing military force, but it also says the white house is now dialing back. why? >> reporter: well, you're right. i mean, the report talks about sort of this playbook, if you will, that has specific steps that was signed off on by the administration. essentially, the u.s. flexing its muscles to try to turn down the temperature, not only in north korea but also in the region there. but this report pointing out that the steps that the u.s. has taken may have been more provocative, may have pushed and provoked this new leader, kim jong-un, more than intended, so they're dialing things back just a bit. keep in mind that the u.s. presence has been increasing in the region in recent weeks starting back on march 8th when the u.s. flew b-52s as part of what was described as a routine mission. then about 2 1
check and yet people in washington are working hard to kill this every single day. it just doesn't make sense. and that's why, you know, the way barack obama won two elections was person to person talking about the issues and he won elections that people say he couldn't win and that's exactly the kind of commitment and the kind of organizing we have to do around these legislative issues. they are going to spend all of the money in the world and we're going to encounter it with fax and people and i like our chances. >> well, i think you laid out a real strategy and it's interesting when you were talking about he won elections people didn't think he could win, i was looking at a quote from you where you talked about doing health care five different times during the health care we went in and told the president it was dead and five different times he put it together and passed a bill that has made millions of americans live better and that's why he's the leader who i believe in. and i think that's an interesting statement, jim. it gives a lot of hope on the policies we're dealing with now
to president obama's 2009 address before congress. >> and $140 million for something called volcano monitoring. instead of monitoring volcanos, what congress should be monitoring is the eruption of spending in washington, d.c. >> that guy. of course, about a month and a half later, there was a massive volcano eruption in alaska, but the persistent attacks have a real and destructive effect. this is what's happening to basic research funding. it's getting cut. the national science foundation national institutes of health are all suffering cuts from the sequester. republicans, led by senator tom coburn, even managed to smuggle an outrageous piece of language that instructs the director of the national science foundation that political sign research can only be funded if it is certified to promote national security or the economic interests of the united states. in other words, a rank bit of micromanaging by a few committed demagogues in the united states senate of the research agenda of academics. one of the things i admire and have truly learned from the conservative intellectual tradition is a
-un, would be san diego, washington, d.c., hawaii, and austin. >> i'm confident president obama is taking a stand. he's our president. i'm confident that the american people will rally behind him. this is a point of unification. this is a defining point in america's history. people need to understand what the north korean threat is. it's perhaps the fifth largest force in the world. they have chemical, nuclear, biological, and nerve weapons. in the event of an attack on seoul, hundreds of thousands of people would die very, very quickly. we have moved missile systems to guam, the most important american base in the pacific. and so the white house is now looking at what they need to be doing, perhaps they've calculated or miscalculated in the past. but there needs to be an understanding on fox and every news network and every newspaper that this is an adversary, that these people want to kill americans. now, some would say, well, this is about money. this is about foreign aid. this is about propping them up. this is about giving them food and fuel. it may be in the end. but the united stat
in as speaker. i think the american people want to see, you know, a check and a balance in washington. we're about to see the implementation of obama care right now. people who are making premiums now struggling. small businesses, employees, looking to see how they're going to get covered. it's going to be a real challenge, this administration. i think we have a lot of room for improvement on that. as far as the budget is concerned, i am in a wait and see mode whether this white house is very serious about coming together. >> it looks like it would be the same, implying the same day the president offered boehner last time. that's already gone through. that deal with 28% cap on deductions for the wealthy. so the same deal maybe on the entitlement side with additional taxes on the other side. >> the funny thing is, joe, there's a lot that the two sides agree on in washington. for the life of me i can't understand why we don't see the white house come forward and embrace things. >> you don't have to agree on everything. you do everything you want the last two years. >> what are the things yo
of 17.2 billion, largely because of tightening lending standards, the obama administration is pushing lenders to make it easier for people with weaker credit to obtain home loans. liz: peter barnes is joining us live from washington, d.c. with more on this development. peter? >> that's right, liz and david. sources confirming that the administration is planning a broad push to get mortgages to people with weaker credit records, credit scores, and, provide them with a taxpayer guaranty. sources say the administration is working with banks, the federal housing administration and other agencies to modify government rules to help homebuyers with lower credit scores who might be able to make mortgage payments now but can't qualify because banks are still being very cautious and tight with their lending standards. critics worry all of this will just tee up another financial crisis and future taxpayer bailouts. >> it's absolutely incredible to me we are going again in the same direction so soon after the financial crisis, simply because the administration and many others have refused to acce
in government policy. monday, washington base investment firm hype securities had a report predicting the obama administration would reverse course op big spending cuts that would have hit health insurers. they skyrocketed by 8.5%, a half hour later. the government announced the change in policy the report predicted. while the incident is throwing a spotlight on the controversial political intelligence industry, today's report by the investigative arm of congress concludeed the area is murky saying, quote, the prevalence of the sale of political intelligence is not known and therefore difficult to quantify. while currently little prevents lobbyists and washington insiders from gathering information, top congress could supplement existing gyps and laws to create stricter regulation. melissa: the washington post traveled the 1700 mile route and wrote about the experience in the recently published e-book, and, steve, what inspired you to do this? >> well, just seemed like a good way to bring this object to life rather than sit here and talk about whether or not this piece of paper was going to be
: it is. ♪ boogie wonderland ♪ . >> gretchen: a good workout song. president obama heads to colorado in a few hours to push his gun control plan. but he's coming under fire for using decades old information to sell the new idea. elizabeth prann has more, live in washington. good morning. >> good morning. the senate may be hearing legislation addressing gun trafficking and expanded background checks in the next week or two. this while president obama continues his pressure campaign while traveling to colorado today. he'll display the state's gun control package. lawmakers there proposed some of the strictest gun laws in the nation. the bill today sets limits on ammunition magazines and expands background checks. the president's arguments, however, are full of stale statistics. he's been using, quoting 40% of all gun purchases are made without a background check, but that number is almost 20 years old. listen. >> why wouldn't we want to make it more difficult for a dangerous person to get his or her hand on a gun? why wouldn't we want to close the loophole that allows as many as 40% of
, president obama told a denver audience if a state like colorado can pass what he calls common-sense gun laws, so can congress here in washington. our white house correspondent jessica yellin is joining us from denver with more. >> reporter: hi, wolf. the president came here to call on supporters to pressure congress to pass a law expanding background checks before he said opponents can run out the clock. president obama traveled west to keep up his campaign for tough new gun safety laws. >> every day that we wait to do something about it, even more of our fellow citizens are stolen from our lives by a bullet from a gun. now, the good news is, colorado has already chosen to do something about it. >> reporter: he's talking about the package of new gun safety laws colorado's democratic governor signed last month. they limit magazine clips to 15 rounds, require universal background checks, and require gun customers to pay for the cost of their background checks. the proposal introduced in the u.s. senate doesn't even include two of those three new measures, but it's struggling for votes. that ma
this is a washington, and that's why i blame this number on them. >> do you think this is a sequester effect? the payroll tax and the increase for the rich. >> this as president obama gets set to announce his budget proposal this week. let's bring in john harwood. >> reporter: good morning, david. this jobs number will play directly into the political arguments as jim cramer suggested, and as jan hatzius suggested a moment ago when he talked about how sequester may have had a modest effect on this jobs number, but it will have more over time. that matches what president obama has said over and over including at this press briefing earlier this year. >> the longer these cuts remain in place the greater the damage to our economy. slow grind that will intensify with each passing day. and then right on cue, alan krueger, he ratcheted up that criticism of washington echoing jim cramer. >> the economy's continuing to heal. what we need to do in washington is avoid self-inflicted wounds. most importantly, they y isequ, the congressional budget office estimates it will reduce job growth by 750,000
. this breaking news this morning, the "washington post" has gotten a heads up on the president's proposal for the budget of next year. what's interesting is this is unlike the barak obama we've heard from in the past. he's actually talking about cutting social security and medicare big time. but you know what? he's also talking about more taxes. fewer tax hikes, but he is still in this new budget proposal calling for $580 billion in more tax if they did change the cost of living calculation for s the so-called cbit could generate $200 billion. unfortunately, it's going to generate a lot of heat from democrats. >> brian: chain cbi will send guys like independent sanders, bernie sanders over the top. it will send nancy pelosi into the moon. but that's something that republicans say you talked about doing it. when it comes to action, you don't do it. that would be significant. also, he's also talk being a 28% cap on all entitlements which would affect charities, home builders, pension plans, anybody who tried to buy a home. >> steve: writeoffs. >> brian: yeah. so-called closing of loopholes.
Search Results 0 to 24 of about 25 (some duplicates have been removed)